● Marvell to Buy Lumentum for $115 Billion

Marvell Technology agreed to acquire optical networking maker Lumentum in an all-stock deal valuing Lumentum at $115 billion enterprise value, the companies said in a joint filing. Lumentum holders get 4.500 Marvell shares each, implying $1,132 per share and a 23.9% premium to the unaffected price. Once the deal closes, Marvell ($MRVL) shareholders will hold about 67% of the combined company and Lumentum shareholders the remaining 33%, as the chipmaker bets on optical connectivity for AI data centers.